The 3 Most Important Character Traits to Have When Starting a Business

Starting a business and developing it into a roaring success takes a lot of effort. Overnight success is rare. Your best bet when starting a business is to plan it out in advance and then put every ounce of energy and effort into your new business that you can muster.

Ask those who have done it and they'll tell you that starting a successful business takes a tremendous amount of work.

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Everyone wants what they think small business ownership brings - pride of accomplishment, financial freedom and a newfound level of independence. These accomplishments are certainly attainable. But many would-be entrepreneurs are simply not willing to roll up their sleeves day after day to develop their fledgling enterprise into a sustainable and profitable business.

More often than not, entrepreneurial success requires extra time and effort. And that leads us to the first requirement when starting a business.

1. Persistence

Once you have chosen your path, you must stick with it and make it pay. Too many people give up on themselves and their dreams when all they needed was to stick it out a little longer.

Decide how you're business will operate and make it happen. Take motivational speaker, Brian Tracy's advice and once you've made a key decision in your business, set out to make that decision right. In other words, don't second-guess yourself. Do your research, make your decision and then put every effort into it for as long as it takes. If you persist without letting up, there's only one possible outcome, and that is your ultimate success.

2. Responsibility

Everything rests on your shoulders. As author Robert Schuller says, "If it is to be, it's up to me." When starting a business of your own, there's no one else to back you up. You are the last line of defence, so the buck stops with you.

You'll be forced to wear many hats in your business. Initially, you might have to do everything like writing ads, buying supplies, creating products, making sales, keeping records, cleaning, shipping goods, and so on. As you grow, you can hire others, or outsource various tasks. But you and you alone are solely responsible for managing these tasks and the various operations of your business.

3. Passion

Someone once said, "Do what you love and the money will follow" and there is at least an element of truth to that statement. While there's no guarantee that getting involved in a business you happen to take great interest in will make you a success, passion is an important element.

Starting a business takes total commitment and a huge amount of energy. Every business starts with high expectations and enthusiasm. But often there are difficulties along the way. Sometimes things do go according to plan. Occasionally, you could be completely blindsided by a legal issue, problem with a neighbouring tenant, or a dramatic change in your industry that throws your plans out the window and puts your business and future in peril.

What is it that makes you carry on? Passion. Passion for what you do. Passion for serving others. Passion for making a difference and for meeting your responsibilities.

The 3 Most Important Character Traits to Have When Starting a Business

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